Alabama-based developer Saad Development Corp. has closed an $11 million deal for the former Evangeline Downs site in Carencro.
It’s new tenant is FedEx Ground, Saad Development President and CEO Greg Saad told The Daily Advertiser on Monday.
“We are going to start construction in the next week or two,” Saad said.
The 230,000-square-foot site will include a distribution facility and a security building.
This is the development company’s 32nd project for FedEx, Saad said.
“Lafayette was actually my first city to develop with FedEx back in the ’90s,” he said. “It was a marvelous experience.”
He credited Lafayette Economic Development Authority President and CEO Gregg Gothreaux for his effort to attract new business.
“I worked with him on the first project. When came back to do this project, there he is,” Saad said. “They treated me so well then and treated us so well this time. It’s a really good reflection on the community and how they reach out to business.”
The construction at the new site should be completed in eight to 10 months.